Edgar Filing: PIMCO CORPORATE OPPORTUNITY FUND

	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549	OMB APPROVAL
		OMB Number: 3235-0578 Expires: February 28, 2006 Estimated average burden hours per response........20.00


	FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number		811-21238

PIMCO CORPORATE OPPORTUNITY FUND
(Exact name of registrant as specified in charter)

1345 Avenue of the Americas New York, New York			10105
(Address of principal executive offices)			(Zip code)

Lawrence G. Altadonna – 1345 Avenue of the Americas New York, New York 10105
(Name and address of agent for service)

Registrant's telephone number, including area code:		212-739-3371

Date of fiscal year end:	November 30, 2006

Date of reporting period:	February 28, 2006

Form N-Q is to be used by the registered management investment company, other than a small business investment company registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b 1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

Item 1. Schedule of Investments

PIMCO Corporate Opportunity Fund Schedule of Investments

February 28, 2006 (unaudited)

Principal Amount (000)			Credit Rating (Moody’s/S&P)	Value*

CORPORATE BONDS & NOTES—77.8%
Airlines—3.6%
$	7,000	American Airlines, Inc., pass thru certificates,
		7.858%, 10/1/11, Ser. 01-2	Baa2/BBB+	$	7,488,487
		Continental Airlines, Inc., pass thru certificates,
3,720		6.703%, 6/15/22, Ser. 01-1	Baa3/BBB+	3,692,182
1,695		7.056%, 9/15/08, Ser. 99-2	Baa3/A-	1,724,004
2,408		7.373%, 6/15/17, Ser. 01-1	Ba1/BB+	2,188,824
9,523		7.707%, 4/2/21, Ser. 00-2	Baa3/BBB	9,867,399
		Delta Air Lines, Inc., pass thru certificates,
8,000		7.57%, 11/18/10, Ser. 00-1	Ba2/BB	8,025,000
9,000		7.92%, 5/18/12, Ser. 00-1	Caa1/CCC+	6,965,000
		Northwest Airlines, Inc., pass thru certificates,
1,566		6.81%, 8/1/21, Ser. 99-1A	B1/B+	1,551,517
15,500		6.841%, 4/1/11, Ser. 1A-2	Ba3/BB	15,393,438
				56,895,851

Apparel & Textiles—0.3%
1,000		Quicksilver, Inc., 6.875%, 4/15/15	B1/BB-	970,000
3,000		Russell Corp., 9.25%, 5/1/10	B2/B	3,112,500
				4,082,500

Automotive—0.5%
4,000		Auburn Hills Trust, 12.375%, 5/1/20	A3/BBB	5,970,412
2,500		Ford Motor Co., 9.98%, 2/15/47	Ba3/BB	1,956,250
				7,926,662

Banking—3.5%
		HSBC Capital Funding L.P., VRN,
8,000		4.61%, 6/27/13 (d)	A1/A-	7,476,368
2,000		10.176%, 6/30/30	A1/A-	3,023,674
625		NCNB, 9.375%, 9/15/09	Aa3/A+	705,845
15,000		Republic New York Corp., 9.70%, 2/1/09	A1/A	16,692,270
9,706		Riggs Capital Trust, 8.875%, 3/15/27, Ser. C	A3/BBB	10,442,880
3,500		Royal Bank of Canada, 5.215%, 11/8/11, Ser. N, FRN	Aa3/A+	3,510,342
2,000		Royal Bank of Scotland Group PLC, 7.648%, 9/30/31, VRN	Al/A	2,403,668
8,000		Sumitomo Mitsui Banking Corp., 8.15%, 8/1/08	A2/NR	8,375,448
3,000		VTB Capital SA for Vneshtorgbank, 5.25%, 9/21/07, FRN (d)	NR/BBB	3,002,250
				55,632,745

Chemicals—0.6%
8,445		Equistar Chemicals L.P., 10.125%, 9/1/08	B2/BB-	9,120,600

Computer Services—0.7%
		Electronic Data Systems Corp.,
4,000		6.50%, 8/1/13, Ser. B	Ba1/BBB-	4,139,796
3,500		7.125%, 10/15/09	Ba1/BBB-	3,706,304
3,000		SunGard Data Systems, Inc., 9.125%, 8/15/13 (d)	B3/B-	3,206,250
				11,052,350

Principal Amount (000)			Credit Rating (Moody’s/S&P)	Value*

Containers—0.5%
		Smurfit-Stone Container Corp.,	B2/CCC+	$	3,940,000
$	4,000	8.375%, 7/1/12	B2/CCC+	4,115,000
4,000		9.75%, 2/1/11		8,055,000

Diversified Manufacturing—0.8%
5.000		Hutchison Whampoa International Ltd., 7.45%, 11/24/33 (d)	A3/A-	5,809,305
£	3,340	Tyco International Group S.A., 6.50%, 11/21/31	Baa3/BBB+	6,685,603
				12,494,908

Electronics—0.1%
$	1,000	Arrow Electronics, Inc., 6.875%, 6/1/18	Baa3/BBB-	1,046,256

Energy—1.0%
2,462		Salton SEA Funding, Inc., 8.30%, 5/30/11, Ser. E	Ba1/BB+	2,643,771
12,000		Sithe Independence Funding Corp., 9.00%, 12/30/13, Ser. A	Ba2/B	13,196,532
				15,840,303

Financial Services—7.1%
5,000		AES Red Oak LLC, 9.20%, 11/30/29, Ser. B	B2/B+	5,750,000
2,000		American General Finance Corp., 8.45%, 10/15/09	A1/A-	2,198,074
686		Beaver Valley II Funding, 6.625%, 6/1/07	Baa3/BBB-	696,047
13,500		BNP Paribas, 5,196%, 6/29/15, VRN (d)	A1/A-	12,981,654
2,500		Canadian Oil Sands Ltd., 4.80%, 8/10/09 (d)	Baa2/BBB+	2,447,622
6,241		Cedar Brakes II LLC, 9.875%, 9/1/13 (b)(d)	Baa2/BBB-	7,073,496
4,000		CIT Group, Inc., 6.875%, 11/1/09	A2/A	4,204,336
10,000		Ford Motor Credit Co., 7.875%, 6/15/10	Ba2/BB+	9,256,810
		General Electric Capital Corp.,
1,100		8.50%, 7/24/08	Aaa/AAA	1,182,168
4,990		9.83%, 12/15/08 (e)	NR/NR	5,917,112
10,000		Goldman Sachs Group, Inc., 7.35%, 10/1/09	Aa3/A+	10,695,030
6,500		HBOS Capital Funding L.P., 6.071%, 6/30/14, VRN (d)	Al/A	6,624,696
4,200		MBNA Capital, 5.48%, 2/1/27, Ser. B, FRN	Aa3/A	4,147,933
9,800		Mizuho JGB Investment LLC, 9.87%, 6/30/08, VRN (d)	Baa1/BBB+	10,713,056
1,510		Mizuho Preferred Capital Co. LLC, 8.79%, 6/30/08, VRN (d)	Baa1/BBB+	1,615,590
2,500		Morgan Stanley, 4.88%, 1/15/10, FRN	Aa3/A+	2,512,000
7,500		Pemex Project Funding Master Trust, 8.626%, 2/1/22	Baa1/BBB	9,318,750
13,500		RBS Capital Trust I, 5.512%, 9/30/14, VRN	Al/A	13,282,448
3,000		Universal City Development Partners Ltd., 11.75%, 4/1/10	B2/B-	3,356,250
				113,973,072

Food & Beverage—0.3%
5,000		Delhaize America, Inc., 8.125%, 4/15/11	Ba1/BB+	5,458,985

Healthcare & Hospitals—2.4%
		HCA, Inc.,
1,000		8.36%, 4/15/24	Ba2/BB+	1,085,474
800		9.00%, 12/15/14	Ba2/BB+	927,590
19,000		HealthSouth Corp., 7.625%, 6/1/12	NR/NR	20,947,500
		Tenet Healthcare Corp.,
5,600		7.375%, 2/1/13	B3/B	5,166,000
9,400		9.50%, 2/1/15 (d)	B3/B	9,447,000
				37,573,564

Principal Amount (000)			Credit Rating (Moody’s/S&P)	Value*

Hotels/Gaming—3.6%
		Caesars Entertainment, Inc.,
$	2,000	7.00%, 4/15/13	Baa3/BBB-	$	2,119,344
1,000		8.875%,9/15/08	Be1/BB+	1,081,250
2,000		Choctaw Resort Development Enterprise, Inc., 7.25%, 11/15/19 (d)	B1/BB-	2,050,000
2,000		Gaylord Entertainment Co., 8.00%, 11/15/13	B3/B-	2,102,500
		Harrah’s Operating Co., Inc.,
4,000		5.50%, 7/1/10	Baa3/BBB-	3,988,264
3,730		8.00%, 2/1/11	Baa3/BBB-	4,091,889
3,000		Hilton Hotels Corp., 7.625%, 5/15/08	Ba2/BB	3,135,357
		ITT Corp.,
4,950		7.375%,11/15/15	Ba1/BB+	5,395,500
3,750		7.75%, 11/15/25	Ba1/BB+	3,881,250
1,200		Mandalay Resort Group, 9.375%, 2/15/10	Ba3/B+	1,323,000
3,750		MGM Mirage, Inc., 8.375%, 2/1/11	Ba3/B+	4,040,625
8,724		Times Square Hotel Trust, 8.528%, 8/1/26 (d)(e)	Baa3/BB+	10,116,874
14,950		Wynn Las Vegas LLC, 6.625%, 12/1/14	B2/B+	14,800,500
				58,126,353

Manufacturing—0.1%
1,000		Bombardier, Inc., 6.75%, 5/1/12 (d)	Ba2/BB	950,000

Metals & Mining—0.8%
9,537		Phelps Dodge Corp., 9.50%, 6/1/31	Baa2/BBB	12,934,356

Miscellaneous—1.3%
20,700		Morgan Stanley TRACERS, 5.751%, 3/1/07, VRN (b)(d)(f)	A3/NR	20,756,904

Multi-Media—9.2%
2,000		Cablevision Systems Corp., 8.00%, 4/15/12, Ser. B	B3/B+	1,975,000
2,000		Charter Communications Operating LLC, 8.375%, 4/30/14 (d)	B2/B-	2,025,000
12,300		Comcast Cable Communications Holdings, Inc., 8.375%, 3/15/13	Baa2/BBB+	14,121,409
		CSC Holdings, Inc.,
15,640		7.625%, 7/15/18	B3/B+	15,307,650
10,535		7.875%, 2/15/18	B2/B+	10,403,312
4,500		8.125%, 8/15/09, Ser. B	B2/B+	4,663,125
2,000		DirecTV Holdings LLC, 6.375%, 6/15/15	Ba2/BB-	2,002,500
7,250		Historic TW, Inc., 8.18%, 8/15/07	Baa2/BBB+	7,542,661
4,000		Mediacom Broadband LLC, 11.00%, 7/15/13	B2/B	4,300,000
16,050		News America Holdings, Inc., 7.43%, 10/1/28	Baa2/BBB	18,153,208
15,000		Rogers Cable, Inc., 8.75%, 5/1/32	Ba2/BB+	17,887,500
		Shaw Communications, Inc.,
5,000		7.20%, 12/15/11	Ba2/BB+	5,212,500
8,000		8.25%, 4/11/10	Ba2/BB+	8,620,000
18,000		Time Warner Entertainment Co. L.P., 8.375%, 7/15/33	Baa2/BBB+	21,673,116
11,000		Time Warner, Inc., 7.70%. 5/1/32	Baa2/BBB+	12,706,738
				146,593,719

Office Equipment—0.3%
5,000		Xerox Capital Trust I, 8.00%, 2/1/27	Ba3/B+	5,200,000

Principal Amount (000)			Credit Rating (Moody’s/S&P)	Value*

Oil & Gas—7.4%
		CenterPoint Energy Res. Corp.,
$	23,000	7.75%, 2/15/11	Baa3/BBB	$	25,219,224
5,000		7.875%, 4/1/13, Ser. B	Baa3/BBB	5,684,380
		Chesapeake Energy Corp.,
300		7.50%, 6/15/14	Ba2/BB	321,000
3,000		7.75%, 1/15/15	Ba2/BB	3,202,500
1,500		Dynergy-Roseton Danskammer, Inc., pass thru certificates,
		7.67%, 11/8/16, Ser. B	B2/B	1,541,130
		El Paso Corp.,
23,200		7.42%, 2/15/37 (d)	Caa1/B-	23,519,000
5,000		7.625%. 9/1/08 (d)	Caa1/B-	5,150,000
12,000		Gaz Capital S.A., 8.625%, 4/28/34	Baa1/BB+	15,510,000
1,030		Hanover Compressor Co., 9.00%, 6/1/14	B3/B	1,127,850
1,800		OAO Gazprom, 9.625%, 3/1/13 (d)	NR/BB+	2,180,250
2,980		Ras Laffan Liquefied Natural Gas Co. Ltd., 3,437%, 9/15/09 (b)	Al/A	2,871,388
2,500		Reliant Energy, Inc., 6.75%, 12/15/14	B1/B+	2,271,875
10,000		Southern Natural Gas Co., 8.875%, 3/15/10	B1/B	10,746,210
17,400		Williams Cos., Inc., 7.875%, 9/1/21	B1/B+	19,531,500
				118,876,307

Paper/Paper Products—3.6%
		Abitibi-Consolidated, Inc.,
23,500		7.50%, 4/1/28	B1/B+	19,035,000
5,000		8.375%, 4/1/15	B1/B+	4,750,000
10,000		8.50%, 8/1/29	B1/B+	8,625,000
2,000		Bowater Canada Finance, 7.95%, 11/15/11	B1/B+	1,970,000
3,000		Bowater, Inc., 9.50%, 10/15/12	B1/B+	3,135,000
		Georgia-Pacific Corp.,
5,000		7.25%, 6/1/28	B2/B	4,662,500
14,119		8.00%, 1/15/24	B2/B	14,189,595
2,000		Smurfit Capital Funding PLC, 7.50%, 11/20/25	B1/B+	1,850,000
				58,217,095

Retail—1.8%
16,000		Albertson’s, Inc., 8.00%, 5/1/31	Baa3/BBB-	15,355,488
13,000		JC Penney Co., Inc., 8.125%, 4/1/27	Baa3/BB+	13,682,500
				29,037,988

Telecommunications—16.2%
35,000		AT&T Corp., 9.75%, 11/15/31, VRN	A2/A	43,927,275
10,000		Bellsouth Capital Funding, 7.875%, 2/15/30	A2/A	11,944,760
5,000		Cincinnati Bell, Inc., 8.375%, 1/15/14	B3/B-	5,075,000
		Citizens Communications Co.,
7,500		9.00%, 8/15/31	Ba3/BB+	8,006,250
4,000		9.25%, 5/15/11	Ba3/BB+	4,450,000
8,000		Deutsche Telekom International Finance BV, 8.25%, 6/15/30	A3/A-	10,088,632
11,000		France Telecom S.A., 8.50%, 3/1/31	A3/A-	14,481,555
2,000		Intelset Bermuda Ltd., 8.875%, 1/15/15 (d)	B2/B+	2,085,000

Principal Amount (000)			Credit Rating (Moody’s/S&P)	Value*

Telecommunications—(continued)
$	11,874	MCI, Inc., 7.688%, 5/1/09	Ba3/A	$	12,259,905
		Nextel Communications, Inc.,
5,000		6.875%, 10/31/13, Ser. E	Baa2/A-	5,238,710
10,000		7.375%, 8/1/15, Ser. D	Baa2/A-	10,583,680
21,650		PanAmSat Corp., 6.875%, 1/15/28	Ba3/BB+	19,620,313
		Qwest Capital Funding, Inc.,
8,070		7.00%, 8/3/09	B3/B	8,211,225
15,600		7.90%, 8/15/10	B3/B	16,302,000
2,000		Qwest Communications International, Inc., 7.50%, 2/15/14	B2/B	2,065,000
		Qwest Corp.,
3,000		7.25%, 9/15/25	Ba3/BB	3,052,500
4,400		7.741%, 6/15/13, FRN	NR/BB	4,829,000
6,150		8.875%, 3/15/12	Ba3/BB	6,918,750
		Rogers Wireless, Inc.,
CAD 1,000		7.625%, 12/15/11 (d)	Ba2/BB	952,414
$	12,340	9.75%, 6/1/16	Ba2/BB	15,224,475
		Sprint Capital Corp.,
25,000		6.90%, 5/1/19	Baa2/A-	27,572,625
2,900		8.375%, 3/15/12	Baa2/A-	3,335,603
1,350		Sprint Nextel Corp., 9.25%, 4/15/22	Baa2/A-	1,768,786
1,400		Time Warner Telecom Holdings, Inc., 8.749%, 2/15/11, FRN	B2/CCC+	1,436,750
15,000		Verizon Global Funding Corp., 7.25%, 12/1/10	A3/A	16,168,200
3,500		Verizon New York, Inc., 7.375%, 4/1/32, Ser. B	Baa3/A	3,720,759
				259,319,167
Tobacco—0.1%
2,000		RJ Reynolds Tobacco Holdings, Inc., 7.25%, 6/1/12	Ba2/BB+	2,080,000

Utilities—10.7%
2,000		CMS Energy Corp., 8.90%, 7/15/08	B1/B+	2,145,000
		East Coast Power LLC, Ser. B,
5,008		6.737%, 3/31/08	Baa3/BBB-	5,037,057
5,643		7.066%, 3/31/12	Baa3/BBB-	5,782,786
6,900		Entergy Gulf States, Inc., 5.207%, 12/8/08, FRN (d)	Baa3/BBB+	5,906,720
4,700		Homer City Funding LLC, 8.137%, 10/1/19	Ba2/BB	5,170,000
2,950		Indianapolis Power & Light, 7.375%, 8/1/07	Baa2/BBB-	3,022,340
		IPALCO Enterprises, Inc.,
22,000		8.375%, 11/14/08	Ba1/BB-	23,567,500
6,960		8.625%, 11/14/11	Ba1/BB-	7,743,000
		Midwest Generation LLC, pass thru certificates,
30,060		8.30%, 7/2/09, Ser. A	B1/B+	31,139,403
15,437		8.56%, 1/2/16, Ser. B	B1/B+	16,777,949
6,000		8.75%, 5/1/34	B1/B	5,487,500
1,000		Ohio Edison Co., 5.647%, 6/15/09 (d)	Baa2/BBB-	1,006,741
		PSEG Energy Holdings LLC,
42,500		8.50%, 6/15/11	Ba3/BB-	46,643,750
2,000		10.00%, 10/1/09	Ba3/BB-	2,250,000
9,981		South Point Energy Center LLC, 8.40%, 5/30/12 (d)	NR/NR	9,481,564
				171,161,310

Principal Amount (000)			Credit Rating (Moody’s/S&P)	Value*

Waste Disposal—1.3%
		Allied Waste North America. Inc.,
$	6,000	7.25%, 3/15/15	B2/BB-	$	6,120,000
11,250		7.875%, 4/15/13	B2/BB-	11,756,250
3,000		8.50%, 12/1/08, Ser. B	B2/BB-	3,176,250
				21,052,500

		Total Corporate Bonds & Notes (cost—$1,151,866,527)		1,243,458,495

SOVEREIGN DEBT OBLIGATIONS—4.1%
Brazil—1.9%
		Federal Republic of Brazil,
5,735		5.25%, 4/15/12, FRN	Ba3/BB-	5,749,738
14,249		8.00%, 1/15/18	Ba3/BB	15,987,378
1,250		10.125%, 5/15/27	Ba3/BB	1,718,750
4,750		11.00%, 1/11/12	Ba3/BB	5,973,125
1,050		12.75%, 1/15/20	Ba3/BB	1,624,875
				31,053,866
Mexico—0.7%
		United Mexican States,
800		8.375%, 1/14/11	Baa1/BBB	905,200
7,000		11.375%, 9/15/16	Baa1/BBB	10,293,500
				11,198,700

Panama—0.4%
6,000		Republic of Panama, 9.375%, 7/23/12	Ba1/BB	7,110,000

Peru—1.0%
13,000		Republic of Peru, 9.125%, 2/21/12	Ba3/BB	15,080,000

Ukraine—0.1%
		Republic of Ukraine,
1,000		7.55%, 6/11/13	B1/BB-	1,078,300
280		11.00%, 3/15/07	B1/BB-	288,813
				1,367,113

		Total Sovereign Debt Obligations (cost—$53,866,273)		65,809,679

U.S. GOVERNMENT AGENCY SECURITIES—1.8%
		Fannie Mae, MBS,
6,782		5.50%, 4/1/35	Aaa/AAA	6,723,754
9,621		5.50%, 6/1/35	Aaa/AAA	9,537,766
1,876		5.50%, 8/1/35	Aaa/AAA	1,859,439
1,926		5.50%, 9/1/35	Aaa/AAA	1,909,079
7,831		5.50%, 10/1/35	Aaa/AAA	7,763,117
995		5.50%, 11/1/35	Aaa/AAA	986,874

		Total U.S. Government Agency Securities (cost—$29,219,416)		28,780,029

Principal Amount (000)			Credit Rating (Moody’s/S&P)	Value*

NEW JERSEY MUNICIPAL BONDS (d)(i)—1.5%
		Tobacco Settlement Financing Corp. Rev., VRN,
$	7,741	7.772%, 6/1/32	NR/AA	$	8,423,292
3,000		8.522%, 6/1/24	NR/AA	5,859,100
8,334		9.022%, 6/1/32	NR/AA	9,965,630

		Total Municipal Bonds (cost—$19,625,844)		24,248,022

MORTGAGE-BACKED SECURITIES (d)—1.0%
		GSMPS Mortgage Loan Trust, CMO,
5,375		7.50%, 12/21/26	NR/NR	5,515,889
10,513		7.50%, 6/25/43 (b)	NR/NR	10,688,487

		Total Mortgage-Backed Securities (cost—$16,676,880)		16,204,376

SENIOR LOANS (a)(b)(c)—1.0%
Entertainment–0.1%
1,000		MGM Studios, 6.78%, 4/8/12, Term B		1,012,898

Hotels/Gaming—0.2%
		Aladdin Gaming, Inc.,
2,939		7.53%, 8/31/10, Term A		2,885,589
64		8.53%, 8/31/10, Term B		63,196
				2,948,785

Multi-Media—0.6%
9,838		Charter Communications Holdings LLC, 7.92%, 4/27/11, Term B		9,962,188

Utilities—0.1%
		AES Corp., Term B,
714		5.69%. 8/10/11		723,571
714		6.75%, 4/30/08		723,572
				1,447,143

		Total Senior Loans (cost—$14,376,571)		15,371,014

ASSET-BACKED SECURITIES—0.8%
1,968		Continental Airlines, Inc., 9.796%, 4/1/21	Ba2/BBB-	2,003,031
8,300		Greenpoint Manufactured Housing, 8.30%, 10/15/26	Ca/NR	7,332,061
987		GSAMP Trust, 5.131%, 6/25/34, FRN	Aaa/AAA	995,833
2,708		Long Beach Mortgage Loan Trust, 6.231%, 3/25/32, FRN	Baa1/NR	2,555,457

		Total Asset-Backed Securities (cost—$12,987,450)		12,886,382

Principal Amount (000)			Credit Rating (Moody’s/S&P)	Value*

SHORT-TERM INVESTMENTS—12.1%
U.S. Treasury Bills (g)—5.4%
$	87,210	3.81%-4.51%, 3/2/06-6/1/06 (cost—$87,047,674)		$	87,046,378

Corporate Notes—4.8%
Financial Services—2.5%
		Ford Motor Credit Co.,
1,900		6.50%, 1/25/07	Ba2/BB-	1,877,238
21,240		7.75%, 2/15/07	Ba2/BB-	20,855,811
		General Motors Acceptance Corp.,
7,000		5,50%, 1/16/07, FRN	Ba1/BB	6,817,013
5,500		5.645%, 5/18/06, FRN	Ba1/BB	5,470,965
4,470		6.125%, 9/15/06	Ba1/BB	4,416,548
900		6.125%, 2/1/07	Ba1/BB	879,955
				40,317,530
Food & Beverage—0.2%
2,500		Delhaize America, Inc., 7.375% 4/15/06	Ba1/BB+	2,508,745
755		Yum! Brands, Inc., 8.50%, 4/15/06	Baa3/BBB	757,980
				3,266,725

Holding Companies—0.1%
2,000		Progress Capital Holdings, 7.17%, 11/1/06 (d)	Baa1/BBB-	2,024,486

Hotels/Gaming—0.4%
		Caesars Entertainment, Inc.,
900		8.50%, 11/15/06	Baa3/BBB-	917,852
4,875		9.375%, 2/15/07	Ba1/BB+	5,063,906
				5,981,758

Insurance—0.1%
1,000		Prudential Financial, Inc., 4.104%, 11/15/06	A3/A	993,404

Multi-Media—0.2%
3,000		Cox Communications, Inc., 7.75%, 8/15/06	Baa3/BBB-	3,029,277

Oil & Gas—0.6%
10,000		Williams Gas Pipelines Central, Inc., 7.375%, 11/15/06 (d)	Ba1/BBB-	10,186,030

Telecommunications—0.0%
596		Calpoint Receivable Structured Trust, 7.44%, 12/10/06 (d)	B3/NR	600,964

Utilities—0.7%
900		American Electric Power Co., Inc., 6.125%, 5/15/06, Ser. A	Baa2/BBB	901,770
7,750		PPL Capital Funding Trust I, 7.29%, 5/18/06	Ba1/BB+	7,770,708
1,631		Progress Energy, Inc., 6.75%, 3/1/06	Baa2/BBB-	1,631,000
				10,303,478

		Total Corporate Notes (cost—$78,269,428)		76,703,652

Principal Amount (000)			Value*

Commercial Paper—0.7%
Financial Services—0.7%
$	11,400	UBS Finance LLC, 4.67%, 5/23/06 (cost—$11,277,257)	$		11,275,626

Repurchase Agreements—1.2%
3,922		State Street Bank & Trust Co., dated 2/28/06, 4.15%, due 3/1/06, proceeds $3,922,452: collateralized by Fannie Mae, 3.125%, 7/15/06, valued at $4,002,385 including accrued interest	3,922,000
15,000		CS First Boston Corp., dated 2/28/06, 4.42%, due 3/1/06, proceeds $15,001,842: collateralized by U.S. Treasury Bond, 4.50%, 2/15/36, valued at $15,338,122 including accrued interest	15,000,000

		Total Repurchase Agreements (cost—$18,922,000)	18,922,000

		Total Short-Term Investments (cost—$195,516,359)	193,947,656

OPTIONS PURCHASED (h)—0.0%
Contracts

		Put Options—0.0%
		Eurodollar Futures, Chicago Mercantile Exchange,
160		strike price $91.75, expires 12/18/06	1,000
424		strike price $92.50, expires 12/18/06	2,650
552		strike price $93.75, expires 3/13/06	3,450
		Japanese Yen, Over the Counter,
5,800,000		strike price $115, expires 5/26/06	115,513

		Total Options Purchased (cost—$102,397)	122,613

		Total Investments before options written (cost—$1,494,237,717)—100.1%	1,600,828,266

OPTIONS WRITTEN (h)—(0.1)%

		Call Options—(0.1)%
		News America Holdings, Inc.,
16,050,000		strike price $100, expires 10/1/06	(1,911,170)

		Put Options—(0.0)%
		Japanese Yen, over the counter,
5,800,000		strike price $112, expires 5/26/06	(52,478)

		Total Options Written (premiums received—$42,450)	(1,963,648)

		Total Investments net of options written (cost—$1,494,195,267)-100.0%	$	1,598,864,618

Notes to Schedule of Investments:

* Portfolio securities and other financial instruments for which market quotations are readily available are stated at market value. Portfolio securities and other financial instruments for which market quotations are not readily available or if a development/event occurs that may significantly impact the value of a security, may be fair-valued, in good faith, pursuant to guidelines established by the Board of Trustees, including certain fixed income securities which may be valued with reference to securities whose prices are more readily available. The Fund’s investments are valued daily by an independent pricing service, dealer quotations, or using the last sale price on the exchange that is the primary market for such securities, or the last quoted bid price for those securities for which the over-the-counter market is the primary market or for listed securities in which there were no sales. Independent pricing services use information provided by market makers or estimates of market values obtained from yield data relating to investments or securities with similar characteristics. The Fund’s investments in senior floating rate loans (“Senior Loans”), for which a secondary market exists will be valued at the mean of the last available bid and asked prices in the market for such Senior Loans, as provided by an independent pricing service. Other Senior Loans are valued at fair-value by Pacific Investment Management Company LLC (the “Sub-Adviser”). Such procedures by the Sub-Adviser include consideration and evaluation of: (1) the creditworthiness of the borrower and any intermediate participants; (2) the term of the Senior Loan; (3) recent prices in the market for similar loans, if any, (4) recent prices in the market for loans of similar quality, coupon rate, and period until next interest rate reset and maturity; and (5) general economic and market conditions affecting the fair value of the Senior Loan. Exchange traded options and futures are valued at the settlement price determined by the relevant exchange. Securities purchased on a when-issued or delayed delivery basis are marked to market daily until settlement at the forward settlement value. Short-term investments maturing in 60 days or less are valued at amortized cost, if their original term to maturity was 60 days or less, or by amortizing their value on the 61st day prior to maturity, if the original term to maturity exceeded 60 days. The prices used by the Fund to value securities may differ from the value that would be realized if the securities were sold. The Fund’s net asset value is determined daily at the close of regular trading (normally, 4:00 p.m. Eastern time) on the New York Stock Exchange (“NYSE”) on each day the NYSE is open for business.

(a) Private Placement. Restricted as to resale and may not have a readily available market.

(b) Illiquid security.

(c) These securities generally pay interest at rates which are periodically pre-determined by reference to a base lending rate plus a premium. These base lending rates are generally either the lending rate offered by one or more major European banks, such as the “LIBOR” or the prime rate offered by one or more major United States banks, or the certificate of deposit rate. These securities are generally considered to be restricted as the Fund is ordinarily contractually obligated to receive approval form the Agent bank and/or borrower prior to disposition. Remaining maturities of senior loans may be less than the stated maturities shown as a result of contractual or optional payments by the borrower. Such prepayments cannot be predicted with certainty.

(d) 144A Security - Security exempt from registration, under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, typically only to qualified institutional buyers. Unless otherwise indicated, these securities are not considered to be illiquid.

(e) Fair-valued security.

(f) Credit-linked trust certificate.

(g) All or partial amount segregated as collateral for futures contracts.

(h) Non-income producing.

(i) Residual Interest Municipal Bonds (“RIBS”)/(Residual Interest Tax Exempt Bonds (“RITES”) - The interest rate shown bears an inverse relationship to the interest rate on another security or the value of an index.

Glossary:

£ - British Pound.

CAD - Canadian Dollar

CMO - Collateralized Mortgage Obligation

FRN - Floating Rate Note. The interest rate disclosed reflects the rate in effect on February 28, 2006.

LIBOR - London Inter-Bank Offered Rate

MBS - Mortgage-Backed Securities

NR - Not Rated

TRACERS - Traded Custody Receipts

VRN - Variable Rate Note. Instruments whose interest rates change on specified date (such as a coupon date or interest payment date) and/or whose interest rates vary with changes in a designated base rate (such as the prime interest rate). The interest rate disclosed reflects the rate in effect on February 28, 2006.

Other Investments

(1) Futures contracts outstanding at February 28, 2006:

Type		Notional Amount (000)		Expiration Date	Unrealized Appreciation (Depreciation)
Long:	Financial Future Euro - 90 day	$	4,300	3/19/07	$	(1,435,625	)
	Financial Future Euro - 90 day	1,000		6/18/07	(159,184		)
	Financial Future Euro - 90 day	3,625		9/17/07	(916,516		)
	U.S. Treasury Bond	15		6/21/06	3,164
					$	(2,508,161	)

(2) Transactions in options written for the three months ended February 28, 2006:

	Contracts		Premiums
Options outstanding, November 30, 2005	16,059,447		$	2,261,222
Options written	5,813,144		3,368,344
Options terminated in closing transactions	(22,591	)	(5,587,116			)
Options outstanding, February 28, 2006	21,850,000		$		42,450

(3) Credit default swap contracts outstanding at February 28, 2006:

Swap Counterparty/ Referenced Debt Issuer	Notional Amount Payable on Default (000)		Termination Date	Fixed Payments Received by Fund		Unrealized Appreciation (Depreciation)
ABN Amro Bank
Ford Motor Credit	$	2,000	6/20/07	3.10	%	$		2,578
Bear Stearns
GMAC	25,000		12/20/06	5.35	%	449,799
Goldman Sachs
Dow Jones CDX	100		6/20/10	3.60	%	5,739
Dow Jones CDX	21,560		12/20/10	3.95	%	1,016,517
Ford Motor Credit	1,000		6/20/07	3.00	%	(7,961			)
HSBC Bank
Ford Motor Credit	1,000		6/20/06	3.25	%	5,782
JP Morgan Chase
Ford Motor Credit	2,700		6/20/06	2.15	%	662
Ford Motor Credit	1,000		6/20/06	3.50	%	7,041
GMAC	1,000		6/20/06	4.10	%	8,856
GMAC	20,000		6/20/06	2.63	%	29,309
GMAC	500		6/20/06	2.75	%	1,034
GMAC	4,000		6/20/06	2.80	%	9,280
GMAC	5,000		6/20/07	6.40	%	(349,804			)
Lehman Brothers
Ford Motor Credit	1,350		6/20/06	2.90	%	5,427
Ford Motor Credit	5,000		6/20/07	3.28	%	(20,018			)
Merrill Lynch
Ford Motor Credit	3,000		6/20/07	3.45	%	(4,803			)
Morgan Stanley
Ford Motor Credit	20,000		9/20/10	4.05	%	(644,952			)
Ford Motor Credit	2,000		6/20/07	3.40	%	(4,615			)
Ford Motor Credit	7,000		6/20/07	4.00	%	(241,642			)
Ford Motor Credit	3,000		6/20/07	3.75	%	7,916
Wachovia Bank
Ford Motor Credit	1,000		6/20/07	3.41	%	(2,166			)
						$	273,979

(4) Interest rate swap agreements outstanding at February 28, 2006:

Swap Counterparty	Notional Amount (000)		Termination Date	Rate Type		Unrealized Appreciation (Depreciation)
Swap Counterparty	Notional Amount (000)		Termination Date	Payments made by Fund	Payments Received by Fund	Unrealized Appreciation (Depreciation)
Goldman Sachs	$	485,000	2/23/16	3 month LIBOR	5.80%	$		635,512
Goldman Sachs	485,000		2/26/16	4.405%	3 Month LIBOR	(191,708			)
Goldman Sachs	1,850,000		12/24/24	3 month LIBOR	5.13%	8,245,685
Lehman Brothers	16,050		10/1/06	7.43%	3 Month LIBOR+1.15%	(156,366			)
Lehman Brothers	151,000		2/23/16	4.405%	3 Month LIBOR	(59,686			)
Lehman Brothers	151,000		2/23/16	3 month LIBOR	5.80%	197,860
Lehman Brothers	1,700,000		12/15/24	5.20%	3 Month LIBOR	(20,108,563			)
						$	(11,437,266		)

LIBOR-London Interbank Offered Rate

(5) Forward foreign currency contracts outstanding at February 28, 2006:

Sold:		U.S. $ Value Origination Date		U.S. $ Value February 28, 2006		Unrealized Depreciation
3,617,000 British Pound settling 3/23/06		$ 6,294,774		$ 6,334,912		$ (40,138	)

Item 2. Controls and Procedures

(a) The registrant’s President and Chief Executive Officer and Principal Financial Officer have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-2(c) under the Investment Company Act of 1940, as amended are effective based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this document.

(b) There were no significant changes in the registrant’s internal controls or in factors that could affect these controls subsequent to the date of their evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.

Item 3. Exhibits

(a) Exhibit 99.302 Cert. – Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Registrant: PIMCO Corporate Opportunity Fund

By	/s/ Brian S. Shlissel
President & Chief Executive Officer

Date: April 24, 2006

By	/s/ Lawrence G. Altadonna
Treasurer, Principal Financial & Accounting Officer

Date: April 24, 2006

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dated indicated.

By	/s/ Brian S. Shlissel
President & Chief Executive Officer

Date: April 24, 2006

By	/s/ Lawrence G. Altadonna
Treasurer, Principal Financial & Accounting Officer

Date: April 24, 2006